Forum
Last updated: 

Can a loan shark be full of debts?

My friend loaned from a loan shark before and he was charged way more than he expected. He threatened a bunch of times yet, nothing bad happened to him. He is curious why the interest of loan sharks are larger than the usual loaners. Are they also in debt that they are charging other people with large amount to pay that?

User comments

  • user image

    No Name

    Most loan sharks have a lot of money due to their way of business. Other loan sharks are under by a much bigger company that also lend money. Even though being a loan shark is illegal, they still continue to do this business. They usually do this illegal stuffs to pay their debts. So even though they are doing illegal things, they are doing it to pay other people.

    2020.03.24 15:44

Please leave your knowledge and opinion!

Related Forums

My neighbor owed me money for a year and stil haven't paying me back.

I have a debt and charged me with high interest rate, what should I do?

What should I do with my debt to a loan shark?

Can I buy a foreclosed house?

Can civil suit be taken regardless of private settlement?

I'm currently in a lot of debt. and I need it to stop

Related Reviews

3% voucher rebates along with a chance to earn Takashimaya Bonus Point

This card offers a 3% voucher rebates along with a chance to earn 1 Takashimaya Bonus Point with every S$10 charged and redeem S$30 worth of Takashimaya Gift Vouchers with every 100 Takashimaya Bonus Points shopping discounts.They go even further with an additional 10% off during selected sales events in-store with complimentary free delivery service when you meet certain spend amount

DBS Takashimaya Debit Card / DBS Bank

Greater control over foreign currency exchange rates that you get

With UOB Mighty FX, you not only save on additional foreign exchange (FX) conversion fees when you shop on overseas websites, but you also have greater control over the foreign currency exchange rates that you get. UOB Mighty FX allows you to view and exchange with real-time foreign exchange (FX) rates for popular currencies including USD, GBP, Euro, Australian Dollar (AUD) and Japanese Yen (JPY). Some exchange rates offered by UOB Mighty FX are even better than those at popular money changers, so clearly, this can help you save some money.

UOB Mighty FX / United Overseas Bank

Withdraw cash from Maybank ATMs with no transaction fees

The Maybank offers two debit cards, the Maybank Platinum Debit Card (Mastercard) and the Maybank Manchester United Platinum Visa Debit Card. Now for those of us, especially those who frequent Malaysia, the free Maybank Platinum Debit Card is pretty useful as it lets you withdraw cash from Maybank ATMs with no transaction fees. Bear in mind, however, that foreign exchange rates may apply.

Maybank Platinum Debit Card / Maybank Singapore

Spend at least $400 a month and get 4% rebate

This debit card comes with free PAssion membership of up to $12 for 5 years. Don’t know what’s so great about that but it adds up for some people. Plus when you spend at least $400 a month on the POSB PAssion Card, you get 4% rebate at Giant, Cold Storage and Guardian. If you have a family, you also get 5% rebate at popular Singapore places of attractions and 1-for-1 tickets on the 10th of every month.

PAssion POSB Debit Card / DBS Bank

Allows you to check your LinkPoints balance and transaction history conveniently

The NTUC Plus! Visa Debit Card Plus App enhances your rewards experience and allows you to check your LinkPoints balance and transaction history conveniently. So be it shopping, exercising, traveling or dining, explore the discounts and deals you can get under Plus! Treats. You can even collect stamps from Plus! Partners to redeem exciting rewards.

NTUC Plus! VISA Debit Card / Oversea-Chinese Banking Corporation

Transact in multiple currencies without incurring foreign currency exchange fee

The KrisFlyer UOB Debit Card and Account has definitely changed for the better. With the introduction of Mighty FX, it now makes even more sense for a frequent traveller to take advantage of the enhanced ability of the KrisFlyer UOB Debit Card to transact in multiple currencies without incurring a foreign currency exchange fee. If you want to earn KrisFlyer miles and don’t want to get or don’t qualify for a credit card, then the KrisFlyer UOB Debit Card and Account are the way to go.

KrisFlyer UOB Account / United Overseas Bank